Rwanda is now the most profitable market for Kenyan bank subsidiaries in the region, overtaking Tanzania where the lenders face a challenging business environment, Daily Nation reports. Offshoots of local lenders in Rwanda helped contribute 29 per cent of the KSh8.79 billion (UShs328bn) pre-tax profit 305 bank units in the
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dfcu Limited has registered an impressive performance in the first six months of 2018, with the Group saying that the outlook for the remaining period to close the year is positive. According to dfcu’s consolidated results released on Friday, the bank’s profit for the 6 months ended 30 June 2018
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Equity Bank Uganda on Thursday morning signed a partnership deal with Uganda’s iconic football club, Express FC worth one hundred million shillings. (100 million shillings) Speaking at the partnership signing held at the bank's headquarters at Church House in Kampala, Anthony Kituuka, the Executive Director at Equity Bank Uganda, said;
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Equity Bank’s three-year-old subsidiary in the Democratic Republic of Congo (DRC) has become its most profitable subsidiary, the lender has disclosed, underlining the potential in the resource-rich central African nation. According to Business Daily, Equity Bank Congo made a KSh700 million (UShs26bn) profit before taxation in the six months ended
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Commercial banks and microfinance deposit taking institutions have been advised to lower interest rates and other bank charges in a bid to allow Small and Medium Enterprises get credit to boost their businesses, Writes Felix Oketcho The State Minister for Cooperatives, Frederick Gume says current interest rates offered by banks
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Equity Bank Group has reported an 18 per cent rise in after-tax profit for the six months to June largely on increased interest earnings and cost management measures. Equity's net profit increased to KSh11 billion (UShs410bn) from KSh9.4 billion (UShs354.2bn) , the country's largest lender by market value said. The
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Kenya’s Director of Criminal Investigations (DCI) George Kinoti has warned banks and mobile service providers over financial fraud, saying cases are mostly perpetrated by their own employees, reports Daily Nation. Speaking in an event held at the Radisson Blu Hotel on Friday, Mr Kinoti urged financial institutions to conduct thorough
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Ecobank, the leading independent pan-African banking group, has announced the finalists for the 2nd edition of the annual Ecobank Fintech Challenge, a competition for Africa-focused technology start-ups. The list includes eleven (11) fintech start-ups from across the continent and beyond. An Innovation Fair & Awards ceremony will honour the start-ups
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Stanbic, Uganda’s leading bank recorded slow growth in the first half of 2018, according to the results released by the financial institution at Serena Hotel on Wednesday morning. The bank’s profit after tax increased by Shs1bn to Shs96bn in June 2018, slightly up from Shs95bn in June 2017. The bank’s
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Absa Group Limited, Barclays Bank of Uganda Limited’s parent company, today reported an increase in earnings and income for the first half of 2018 and underscored its commitment to growth in Africa. Absa Group, previously known as Barclays Africa Group, said headline earnings rose 3% to R8 billion (about US$608
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